When I began covering the accounting profession many years ago, a veteran practitioner who obviously availed himself of the open bar for about two Manhattans too long, shared this water cooler joke about the speed in which accountants willingly adapt to change.
“Glaciers could give accountants a 20-yard head start and still win in a 40-yard dash.”
He tried to tell another, but I assured him I got the point.
As a lifelong New Yorker and sports fan you can imagine I’ve been privy to some headline-capturing controversies. But perhaps none quite on the quantum scale as last week’s announcement that the Jets had acquired Tim Tebow from the Denver Broncos, thus igniting a season ticket-holder’s fantasy quarterback controversy with the team’s incumbent signal-caller Mark Sanchez.
Welcome to the inaugural blog in my new capacity as Managing Director of Consulting Services at Transition Advisors. Many of you I know from my previous post, where I wrote a column or two on trends and events in the accounting profession. Some of you even emailed me during my nearly 12 years there to suggest that many were even controversial in nature.
The key measure of a deal’s success is client retention. To plan for the highest level of retention possible, start by considering why you have your clients. Most are unaware of your competency level. You are their most trusted business adviser and this trust can be taken advantage of, in a professional and ethical way, and should not be feared.
Most of us in firms with less than 5 or 6 partners realize our clients are partner loyal, not brand loyal. We are also confronted with the reality that we see our clients in person less and less each year as they mail in work, are on the cloud (or will be), staff pick up the work… thus when someone says they are 5 years from slowing down, it seems like an eternity, but the hard truth is that may be only 5 in-person visits for the majority of your clients.